Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
10/10 · CriticalNo licence at any regulator while taking client deposits, plus a formal April 2023 Japanese regulator warning naming the firm for unregistered solicitation.
Identity & transparency
9/10 · CriticalOnly a Kingstown mail-drop address and an entity name the regulator itself cautions may be false; no registry entry, no named owners or officers, and a Vietnam contact number.
Withdrawals & conduct
10/10 · CriticalFirm-wide fund-integrity failure: withdrawals stretched to 25 business days, then declared unpayable in full, profits deleted, one token distribution and no further payment.
Reputation
9/10 · CriticalSustained, unresolved reporting of the collapse across Japanese financial news and multiple broker-review platforms, corroborated by a regulator warning; no credible rebuttal from the firm.
Website claims
8/10 · CriticalAdvertised a safe environment, segregated funds and 5-business-day withdrawals days before freezing them, and kept promoting affiliate recruitment while already failing; it did not, however, fabricate a tier-1 licence.
Operational history
9/10 · CriticalPublic trading life ran only from March 2021 to September 2023 despite aged domains, followed by a rebrand-linked collapse and abandonment of the domain to an unrelated business.
Who they are
A quick desk file on the company behind the brand.
- Brand: FX Fair, previously traded as FXBeyond until an October 2022 rebrand.
- Legal entity: FXFair Ltd., as named in the Japanese regulator's warning notice.
- Registered: Beachmont Business Centre, 358, Kingstown, Saint Vincent and the Grenadines. A standard offshore mail-drop address.
- Website: fxfair.com. It no longer belongs to the broker and now redirects to an online gambling site.
- Only licence: None. No regulator anywhere licensed this firm.
- Offered: Forex, metals, energy, indices, shares and crypto on MetaTrader 4, with leverage marketed up to 1:500 and deposit bonuses.
- Main market: Japan. The site ran in Japanese with a Japanese support desk from March 2021.
- Not accepted: Unknown. The site is gone, so its restricted-country list could not be read.
- Age claim: Third-party listings describe it as founded in 2013, but the brand only began trading publicly in March 2021 and collapsed in September 2023.
Regulation
Who really oversees this broker, and what each licence is worth to you.
Proof of regulation on an official register: No
We could not confirm this broker on any genuine regulator’s register.
No licence claims on record.
Why we reached this verdict
How the evidence adds up.
We reached this verdict from an official regulator notice and from the firm's own announcements about client money.
- A regulator named this exact firm. On 21 April 2023 the Kanto Local Finance Bureau of Japan's Ministry of Finance published a warning against FXFair Ltd. of Beachmont Business Centre, Kingstown, Saint Vincent and the Grenadines, for soliciting over-the-counter derivatives business over the internet without registration. The notice records that the service name used by this operator is FXFair. The address matches the one the operation published for itself.
- There was no licence to lose. We found no licence for this firm at any regulator. Saint Vincent and the Grenadines does not license or supervise forex brokers at all, so being based there gave clients no protection whatsoever.
- The withdrawal failure was systemic, not a dispute. Delays began around June 2023. On 15 August 2023 the firm extended withdrawal processing from a maximum of 5 business days to 25. On 18 August its payment partner's bank account was frozen and bank transfers stopped, leaving crypto as the only route in. In early September it announced it could not pay withdrawals in full and would make split payments instead.
- The refund terms deleted client profits. Clients were offered the lower of deposits minus withdrawals, or their account balance, paid in USDT, with profits excluded. They had to submit a wallet address and identity documents by 25 September 2023 or receive nothing. One small distribution followed, then nothing further.
- It marketed hard while it was already failing. The official FX Fair account posted on 10 August 2023, five days before the withdrawal extension, calling itself a safe trading environment for beginners, and spent that week promoting its affiliate programme to recruit more clients. The account has been silent since.
- The corpse fits an exit scam, not a quiet closure. A firm that simply runs out of business does not leave a terminal cluster of withdrawal failures, and it does not keep taking crypto deposits after its bank rails are frozen. By July 2024 support had stopped functioning and clients were reported to be pursuing legal recovery. Today the domain has been handed on to an unrelated gambling operator while the money is still outstanding.
- A rename does not reset this. The operation traded as FXBeyond on a Panama registration before moving to Saint Vincent and the Grenadines and rebranding to FX Fair in October 2022. It collapsed eleven months later. We found nothing showing the two operations were ever severed.
Note on operating history: the 17.7-year track record rests on domain registration alone. No company incorporation date could be established, so this is an upper bound rather than a confirmed age.
Evidence ledger
Every finding, with its source and how strongly it points.
E1Japan's Kanto Local Finance Bureau published a formal warning on 21 April 2023 against FXFair Ltd. of Beachmont Business Centre, 358, Kingstown, Saint Vincent and the Grenadines, for soliciting over-the-counter derivatives over the internet without registration, and records that the service name used is FXFair.
E2The bureau's full warning register lists FXFair Ltd. with the warning date 21 April 2023 and the service name FXFair, alongside other unregistered operators.
E3Detailed contemporaneous reporting of the collapse: withdrawal processing extended from 5 to 25 business days on 15 August 2023, the payment partner's bank account frozen on 18 August, and an early-September announcement that full withdrawals were impossible, with refunds limited to principal in USDT and a 25 September 2023 documentation deadline.
StrongMyforex financial newsE4Independent account of the same timeline, confirming the rebrand from FXBeyond, the 7 September 2023 service suspension described as an operational collapse, split payments with no schedule, and users reporting outright withdrawal refusal.
E5The official FX Fair account, which lists fxfair.com as its website and was created in March 2021, was still marketing a safe trading environment for beginners on 10 August 2023 and promoting its affiliate recruitment programme that same week, then fell silent as withdrawals were frozen.
E6The broker's own domain no longer serves the brokerage. A live check on 16 August 2026 shows www.fxfair.com issuing a permanent redirect to an unrelated Indonesian online gambling site, while client funds remain unreturned.
E7Registration records show fxfair.com was created on 2 December 2011 and was last changed on 17 January 2026, consistent with the domain being handed to a different operator after the brokerage failed.
E8An independent broker review confirms the operation was domiciled in Saint Vincent and the Grenadines, ran on MetaTrader 4, and states plainly that there is no well-known regulation at FXFair.
ModerateDailyForex broker reviewE9Reporting that as of July 2024 the website still existed but customer support had ceased functioning entirely, only one small refund had ever been paid, no further announcements were made, and some clients had turned to legal action without result.
E10An archived capture of the broker's own site from June 2025 shows it was a Japanese-language operation advertising an industry-leading trading environment, bonus campaigns and a Japanese support desk, confirming active solicitation of Japanese residents without registration.
E11The predecessor brand's domain, fxbeyond.com, was registered on 17 November 2008, establishing that the operation reused aged domain assets rather than building a continuous trading history under the FX Fair name.
E12A commentary arguing that some individual withdrawal refusals stemmed from clients breaching the firm's expert-advisor and scalping rules rather than from fraud, which we weighed before concluding that the firm-wide September 2023 failure was systemic.
The other side
The strongest case in this broker’s favour.
We looked for the innocent reading before settling on this verdict, and two points genuinely deserve airing.
- Some individual refusals may have been rule-based. At least one Japanese commentary argues that a share of the complaints came from traders who broke the firm's expert-advisor and scalping restrictions, rather than from theft. That is a fair caution about any single complaint, and we have not treated isolated reports as proof.
- The firm gave reasons and did pay something. It blamed reputational damage from a third-party copy-trading incident, the suspension of its MetaTrader licence, frozen bank accounts and compromised crypto wallets. It published a refund formula, set a deadline and made an initial distribution. A pure exit scam usually just vanishes.
- Operating without a Japanese registration is not itself theft. Many offshore brokers serve Japanese clients without registering, and Japanese residents are not breaking the law by using them. The warning on its own would not make this a scam.
- Offshore alone is not fraud. Hundreds of real brokers operate on weak offshore paperwork and still pay their clients.
What defeats all of this is the outcome. The refund scheme wrote off client profits entirely, paid once, and then stopped. Support went dead, no further announcement came, and nearly three years later the money has not been returned and the website has been sold on to an unrelated business. Whatever the intent in August 2023, clients were left without their funds and without a regulator able to help them.
What would change this
What we would need to see to revise the verdict.
This verdict rests on the regulator notice and on the unreturned client money. Concrete things that would change it:
- Evidence that clients were paid in full, such as a documented settlement, an administrator's distribution record, or a credible set of confirmed payouts after September 2023.
- A formal insolvency or liquidation process in a real jurisdiction showing an orderly wind-down with a creditor register, rather than an unsupervised collapse.
- The Kanto Local Finance Bureau withdrawing or correcting its 21 April 2023 warning against FXFair Ltd.
- A genuine trading licence for FXFair Ltd., verifiable on an issuing regulator's own register and in force during 2021 to 2023.
- Proof that the FXBeyond operation was severed from FX Fair by different owners, a different entity and separate infrastructure.
We would also revisit this if the Saint Vincent and the Grenadines company register became publicly searchable and showed a materially different picture of who was behind FXFair Ltd.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
Frequently asked questions
Quick answers about this broker’s safety.
Is FX Fair a scam?
Yes. FX Fair stopped paying client withdrawals in August and September 2023, offered a refund that returned deposits only and deleted client profits, paid one small distribution and then went silent. Japan's Kanto Local Finance Bureau had already warned against the firm in April 2023 for unregistered solicitation. The money was never returned.
Is FX Fair regulated?
No. We found no licence for FXFair Ltd. at any financial regulator. The firm was based in Saint Vincent and the Grenadines, which does not license or supervise forex brokers, so no authority was ever responsible for protecting client deposits.
Can I still withdraw my money from FX Fair?
Realistically, no. The refund window closed on 25 September 2023, only one small distribution was made, customer support stopped functioning, and the website no longer belongs to the broker. Clients who tried legal recovery have not reported any progress.
What happened to FX Fair in 2023?
Withdrawal delays began around June 2023. On 15 August the firm extended processing from 5 to 25 business days. On 18 August its payment partner's bank account was frozen. In early September it announced it could not pay in full and would make split payments instead. It has not operated normally since.
Why did FX Fair say it could not pay?
It blamed six things: reputational damage from a third-party copy-trading incident, the suspension of its MetaTrader licence, frozen bank accounts, halted overseas banking payments, compromised crypto wallets and widespread account abuse. Whatever the cause, clients were not made whole.
Did FX Fair pay back client profits?
No. The refund formula paid the lower of deposits minus withdrawals, or the account balance, in USDT. Trading profits were excluded entirely. Clients who had made money on the platform lost all of it.
What is fxfair.com now?
It is no longer a broker site. As of our check in August 2026, the domain redirects to an unrelated Indonesian online gambling site. Anyone landing there is not dealing with the former broker.
Was FX Fair known by another name?
Yes. It traded as FXBeyond, on a Panama registration, and rebranded to FX Fair in October 2022 after moving its base to Saint Vincent and the Grenadines. It collapsed about eleven months after the rebrand. A change of name does not clear that history.
Who owns FX Fair?
That is not publicly established. The only entity name on record is FXFair Ltd. at a Kingstown mail-drop address, published by the Japanese regulator, which itself cautioned that the name and address given by such operators may be false. Saint Vincent and the Grenadines does not publish a searchable company register, so we could not identify the people behind it.
Did any regulator take action against FX Fair?
Yes. On 21 April 2023 the Kanto Local Finance Bureau of Japan's Ministry of Finance issued a formal warning against FXFair Ltd. for conducting financial instruments business without registration, specifically soliciting over-the-counter derivatives over the internet.
Is a Saint Vincent and the Grenadines address a licence?
No. Registering a company there is cheap and gives no supervision of a trading business. The local authority has said it does not regulate forex. Treat a Kingstown address on a broker site as a warning sign, not as regulation.
I was contacted by someone offering to recover my FX Fair funds. Should I pay?
No. Recovery offers that ask for an upfront fee target people who already lost money, and they are a second scam. No legitimate service charges you in advance to release your own funds. Report the approach to your regulator or police.
How can I avoid a broker like this in future?
Check the licence number yourself on the regulator's own register, not on the broker's site. Confirm the regulator actually supervises forex in that country. Be wary of large deposit bonuses, very high leverage, crypto-only funding, and firms whose only address is an offshore mail drop.
What we recommend
The practical takeaway from everything above.
Treat FX Fair as a closed operation that did not return client money. Do not send it funds under any name.
- Do not deposit. The brand is defunct and its former domain now belongs to an unrelated gambling site. Any page or person still inviting deposits under the FX Fair name should be treated as fraudulent.
- If you lost money, report it. Japanese residents can contact the Kanto Local Finance Bureau's securities supervision division on 048-613-3952, and their local consumer affairs centre. Elsewhere, report to your national financial regulator and to the police.
- Act on the payment trail. If you paid by card or bank transfer, ask your provider about a chargeback or recall. If you paid in crypto, keep the wallet addresses and transaction hashes, as they are the only usable trail.
- Refuse all recovery offers. Anyone contacting you promising to recover FX Fair funds for an upfront fee is running a second scam on the same victims. No legitimate service asks for payment in advance to release your own money.
- Watch for the next brand. This operation already renamed once, from FXBeyond to FX Fair. Be cautious of new offshore brokers reusing the same Kingstown address, the same support contacts or the same affiliate network.
- Before any future broker: check the licence number on the regulator's own register, and confirm the regulator actually supervises forex in that country.
This is an independent assessment of risk, not a legal ruling. Scores and verdicts follow the Wikilix broker-safety methodology and can change as new evidence appears. Review scores are treated with caution when a broker’s reviews look manipulated. Last reviewed August 16, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.